Mn Services Vermogensbeheer B.V. Increases Stock Position in PACCAR Inc (NASDAQ:PCAR)

Mn Services Vermogensbeheer B.V. lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 206,619 shares of the company’s stock after purchasing an additional 3,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in PACCAR were worth $21,493,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after purchasing an additional 61,457 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 0.5 %

NASDAQ:PCAR opened at $105.50 on Friday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The business has a fifty day moving average price of $107.20 and a 200-day moving average price of $105.53. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 16.69%.

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last three months. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.